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Commercial Telematics Market Share,Trend, Opportunities,
Growth and Forecasts to 2025 | Hexa Research
“ The global commercial telematics market is expected to reach USD 114.28
billion by 2025 ”
04 January 2019
The global commercial telematics market is expected to reach USD 114.28 billion by 2025 on account of to
the rapid penetration of smart connectivity systems in passenger cars as well as commercial vehicles.
Continuous software developments to link smartphones to the vehicle to improve drive quality, increase road
safety, and monitor real-time positioning of automobiles to avoid congestions in case of any emergency
situations are key parameters contributing to the growth of the market.
Features such as vehicle tracking, fleet management, satellite navigation, and wireless vehicle safety ensure
improved ride quality. Such features are expected to fuel the market over the forecast period.
Solutions such as infotainment systems and services such as maintenance & training services are gaining
momentum pertaining to rising awareness regarding driver and passenger safety. Furthermore, supporting
government regulations regarding implementation of automotive telematics are expected to drive the
market over the forecast period. For instance, in March 2016, the Japanese government joined hands with
the U.S. and Europe for R&D on autonomous vehicles where commercial telematics have a wide scope.
Insurance telematics accounted for 10.2% of the overall market share in 2016. The segment is anticipated to
experience high demand for commercial telematics over the forthcoming years attributed to the need to
increase safety and reduce the loss from accidents.
Browse Details of Report @ https://www.hexaresearch.com/research-report/commercial-telematics-market
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